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Economics problems




Question;The outdoor furniture corporation manufactures two products, benches and picnic tables, for use in yards and park. The firm has two main resources: its carpenter (labor force) and a supply of redwood for use in the furniture. During the next production cycle,1,200 hours of labor are available under a union agreement. The firm also has a stock of 3,500 feet of good quality redwood. Each bench that Outdoor furniture produces requires 4 labor hours and 10 feet of redwood: each picnic table takes 6 hours and 35 feet of redwood. Completed benches will yield a profit of $9 each, and tables will result in a profit of $20 each. How much benches and tables should Outdoor furniture produce to obtain the largest possible profit? (use the graphical LP approach).2.MSA computer Corporation manufactures two models of minicomputers, the Alpha 4 and the Beta 5. The firm employs five technicians, working 160 hours each per month, on its assembly line. Management insists that full employment (I.e., all 160 hours of time) be maintained for each worker during next months operation. It requires 20 labor hours to assemble each Alpha 4 computer and 25 labor hours to assemble each Beta 5 model. MSA want to see at least 10 Alpha 4s and at least 15 Beta 5c produced during the production period. Alpha 4s generate $1,200 profit per unit, and Beta 5s yield $1,800 each. Determine the most profitable number of each model of minicomputer to produce during the coming month.


Paper#57482 | Written in 18-Jul-2015

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